IQ MacKay Shields Municipal Intermediate ETF (MMIT)
| Assets | $284.68M |
| NAV | $24.75 |
| Expense Ratio | 0.31% |
| PE Ratio | n/a |
| Shares Out | 11.50M |
| Dividend (ttm) | $0.43 |
| Dividend Yield | 1.74% |
| Ex-Dividend Date | Aug 1, 2022 |
| 1-Year Return | -7.96% |
| Volume | 142,480 |
| Open | 24.79 |
| Previous Close | 24.71 |
| Day's Range | 24.71 - 24.79 |
| 52-Week Low | 23.96 |
| 52-Week High | 27.00 |
| Beta | 0.06 |
| Holdings | 434 |
| Inception Date | Oct 18, 2017 |
About MMIT
The fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index. Instead, it uses an active management strategy to meet its investment objective. The fund, under normal circumstances, invests at least 80% of its assets (net assets plus borrowings for investment purposes) in debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax (Municipal Bonds). It does not intend to invest in Municipal Bonds whose interest is subject to the federal alternative minimum tax.
Top 10 Holdings
17.93% of assets| Name | Symbol | Weight |
|---|---|---|
| Dreyfus Tax Exempt Cash | n/a | 7.54% |
| ALAMITO PUB FACS CORP TEX MULTIFAMILY HSG REV 3.5% | TX ALMMFH 09.01.2025 | 1.35% |
| ALAMITO PUB FACS CORP TEX MULTIFAMILY HSG REV 3.5% | TX ALMMFH 09.01.2025 | 1.35% |
| NEW JERSEY ST HSG & MTG FIN AGY MULTIFAMILY CONDUIT REV 3.5% | NJ NJSHSG 07.01.2025 | 1.35% |
| SOUTHEAST ENERGY AUTH COMMODITY SUPPLY REV ALA 5% | AL SEEPWR 05.01.2053 | 1.25% |
| CENTRAL PLAINS ENERGY PROJ NEB GAS PROJ REV 5.25% | NE CENPWR 5.25 09.01.2037 | 1.11% |
| BLOOMINGTON IND WTRWKS REV 5% | IN BLOUTL 5 07.01.2039 | 1.01% |
| SOUTHWEST HIGHER ED AUTH INC TEX REV 4% | TX SWSHGR 4 10.01.2042 | 1.00% |
| ATLANTA GA ARPT PASSENGER FAC CHARGE REV 5% | GA ATLAPT 5 07.01.2040 | 1.00% |
| KING CNTY WASH SWR REV 1.91% | WA KINUTL 01.01.2040 | 0.98% |
Dividends
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Aug 1, 2022 | $0.045 | Aug 5, 2022 |
| Jul 1, 2022 | $0.043 | Jul 8, 2022 |
| Jun 1, 2022 | $0.03592 | Jun 7, 2022 |
| May 2, 2022 | $0.03745 | May 6, 2022 |
| Apr 1, 2022 | $0.03561 | Apr 7, 2022 |
| Mar 1, 2022 | $0.03626 | Mar 7, 2022 |
News
The Upheaval in Municipal Bonds Shows No Signs of Slowing
As the municipal bond market absorbs more inflows. assets like the IQ MacKay Municipal Intermediate ETF (MMIT) are worth considering.
Are We Entering a ‘New Golden Decade' for Municipal Bonds?
With higher yields and more stability to offer fixed income investors, municipal bonds are all the rage in the debt market. A pair of active funds to consider are the IQ MacKay Municipal Intermediate ET...
Active Muni Bond ETFs Can Help Enhance an Investor’s Portfolio
The coronavirus pandemic triggered widespread market volatility, but it also offered an opportunity for active managers to position in attractively priced areas of the market. Fixed-income investors can...
ETF of the Week: IQ MacKay Shields Municipal Intermediate (MMIT)
ETF Trends CEO Tom Lydon discussed the IQ MacKay Shields Municipal Intermediate (MMIT) on this week’s “ETF of the Week” podcast with Chuck Jaffe on the MoneyLife Show. MMIT seeks current income exempt f...
Active Muni ETFs to Better Navigate a Changing Landscape
As bond investors look to the current municipal bond landscape, one may consider targeted exchange traded fund strategies to incorporate munis into a diversified fixed-income portfolio better. In the re...
Insights into the Evolving Municipal Bond Market
Municipal bonds offer investors another avenue for income generation beyond the traditional Aggregate Bond Index exposures, providing opportunities to enhance and diversify yields. In the upcoming webca...